Guideline Value for SRINIVASAN NAGAR

Srinivasan Nagar guideline value

The current guideline value of Srinivasan Nagar, located in P.V.Kalathur A village under the Chengleput Joint I SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Srinivasan Nagar has changed

The guideline value for Srinivasan Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 167 per sq.ft. In the subsequent 2023 revision, the value remained unchanged at Rs 250 per sq.ft. The most recent revision in 2024 also maintained the guideline value at Rs 250 per sq.ft, indicating no change from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a 50% increase in the guideline value. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in P.V.Kalathur A

In P.V.Kalathur A, there are 21 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 450 per sq.ft. The median value for these streets is Rs 402 per sq.ft, placing Srinivasan Nagar's 2024 figure below that median.

• Sri Ram Nagar: Rs 402 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 450 per sq.ft (2024)
• Sri Venkata Nagar: Rs 450 per sq.ft (2024)
• Saraswathi Nagar: Rs 402 per sq.ft (2024)
• Sai City: Rs 250 per sq.ft (2024)
• Ramana Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is charged at 7%, resulting in Rs 17,500, while the registration fee is charged at 2%, amounting to Rs 5,000. Therefore, the total cost for stamp duty and registration fee together is Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Srinivasan Nagar?

The Sub Registrar Office that covers Srinivasan Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in P.V.Kalathur A

The guideline value plays a crucial role in the registration process when buying or selling property in P.V.Kalathur A. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and consistent across the region.

Frequently asked questions

What is the current guideline value of Srinivasan Nagar?

The current guideline value of Srinivasan Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 50%, moving from Rs 167 per sq.ft to Rs 250 per sq.ft in both the 2023 and 2024 revisions.

What is the median guideline value for streets in P.V.Kalathur A?

The median guideline value for the 21 streets in P.V.Kalathur A is Rs 402 per sq.ft, with Srinivasan Nagar's current value being below this median.

What are the stamp duty and registration fees for property in Srinivasan Nagar?

For a property valued at Rs 2,50,000, the stamp duty is Rs 17,500 and the registration fee is Rs 5,000, totaling Rs 22,500. These fees are based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Srinivasan Nagar located?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in Srinivasan Nagar.